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Thanks to the unprecedented boom of the last few years, many developers have confused professionalism with giving an impression of vast, corporate indifference. However, one developer with its roots in Dubai but branching out into Ajman has retained the personal touch of its self-made CEO. Matt Warnock talks to Sweet Homes’ Fahad Sattar Dero
What is your background in development and where did the inspiration for Sweet Homes come from?
FSD: Sweet Homes was born out of a single investment that involved the reselling of a building in International City. Now, I am very proud to say, we’ve already launched two developments worth AED 4.7 billion, with plans for a third project already in the pipeline.
I’m a driven person with an innate desire to achieve success and the extensive opportunities witin the UAE for a determined person, such as myself, have inspired me to pursue my ambitions here.
Which developments is Sweet Homes currently working on? Are they residential, commercial or mixed-use?
FSD: Currently, we have two projects, namely Ajman Uptown and Rainbow Towers. Ajman Uptown is a major new villa-based development located in the heart of New Ajman and next to the Emirates Road, which will comprise of 1504 villas and seven commercial and residential buildings.
The villas consist of two, three and four bedroom villas, which are named after flowers such as Acacia, Begonia, Camellia, Dahlia and Erica; they come with parking spaces and spacious gardens. Our second project is Rainbow Towers, which is located in Emirates City and consists of around 72 residential and commercial projects. It will encompass picturesque lakes and green parks, a shopping district, a mosque, five-star hotels, educational and medical facilities
Does Sweet Homes have a particular ethos? How does it differ from other development companies?
FSD: In line with the adage ‘home sweet home’, the philosophy of Sweet Homes is to bring master-planned built spaces that will provide our customers with the ideal place to nurture their individual growth, as well as that of their families.
Our commitment to the growth of our customers, as characterised by our dedication towards ensuring that they get the most out of their investment, sets us apart from other developers.
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As a developer, how much of the overall project is Sweet Homes responsible for?
FSD: We are involved in all aspects of our projects’ development – from conception to inception. This is especially true with Ajman Uptown, as we are also undertaking the construction works on this project.
We constantly seek to partner with reliable consultants in the design stage, as well as with highly experienced contractors for the building works on our projects. We also interact with municipalities and other government departments for the legal approvals and permits.
How do you decide on new regions or locations for developments and how do laws and regulations differ across the United Arab Emirates?
FSD: Prior to venturing into new projects, we take into consideration the political stability, economic environment, property laws, taxation – especially property tax and capital gain taxes – and rental yield in the new location.
Different Emirates offer different challenges due to laws and regulations that are unique to each of them. Ajman, for example, has more relaxed property laws and lenient regulatory control that favour developers compared with Dubai, where tight regulations are the order of the day. New laws and regulatory control is an implied necessity when a country opens up ownership of land and property to foreigners, especially if no such laws exist in the first place.
In addition, the formation of regulatory authorities is essential to implement and govern these laws and, therefore, create a secure environment for property investment in the country. However, in my opinion, a unified nationwide property law addressing all issues across the whole UAE would be a real incentive.
Have current financial conditions had an impact on Sweet Homes’ projects?
We aren’t experiencing any direct impact from the current financial conditions, mainly as we have minimum business with banks.
Like all other developers, we are very cautious in making financial moves during the current financial crisis.
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I read the article and I congratulate the owner for the project and keeping the names of flowers. I offer to supply our